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North American stock markets inched up to new record highs on a broad-based rally resulting from an easing of novel coronavirus concerns.

The S&P/TSX composite index closed up 36.54 points at 17,777.11 after setting an intraday record high.

In New York, the Dow Jones industrial average was down 0.48 of a point at 29,276.34 after setting a record in earlier trading. The S&P 500 index and the Nasdaq composite both closed at record highs with the S&P gaining 5.66 points to 3,357.75 and Nasdaq up 10.55 points at 9,638.94.

The Canadian dollar traded for US75.23¢ compared with an average of US75.08¢ on Monday.

The March crude contract was up US37¢ at US$49.94 per barrel and the March natural gas contract was up US2.2¢ at US$1.79 per mmBTU.

The April gold contract was down US$9.40 at US$1,570.10 an ounce and the March copper contract was up US3.25¢ at US$2.58 a pound.